NEGOTIATING

NEGOTIATING

1. Is frequently informal and, typically, is not completed in a single meeting of the parties around the table.

   • formal agreement.
   • Main points

2. elements of the deal and the commercial terms that each party thought it was signing up to.

   • When all of the points are agreed, the parties then enter into a formal contractual
     • The contract must fulfil three essential elements. There must be: Terms of exchange specified for the bargain; Something of value exchanged; and Mutual exchange.

3. The negotiations should focus on one item at a time until agreement is reached.

   • approval
   • rejected

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